Segall Bryant & Hamill LLC Takes Position in First Horizon Co. (NYSE:FHN)

Segall Bryant & Hamill LLC bought a new position in First Horizon Co. (NYSE:FHN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 10,900 shares of the financial services provider’s stock, valued at approximately $220,000.

Other hedge funds have also made changes to their positions in the company. Versant Capital Management Inc grew its stake in First Horizon by 160.1% during the fourth quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock worth $29,000 after buying an additional 884 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in shares of First Horizon in the 4th quarter worth approximately $30,000. Kentucky Trust Co bought a new stake in First Horizon during the 4th quarter worth approximately $32,000. True Wealth Design LLC acquired a new stake in First Horizon during the 3rd quarter valued at $36,000. Finally, Lee Danner & Bass Inc. bought a new position in First Horizon in the 4th quarter valued at $50,000. Institutional investors and hedge funds own 80.28% of the company’s stock.

First Horizon Price Performance

First Horizon stock opened at $19.24 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $9.89 billion, a P/E ratio of 14.14, a PEG ratio of 1.19 and a beta of 0.86. The business has a 50-day moving average of $20.65 and a 200-day moving average of $19.30. First Horizon Co. has a 1 year low of $13.72 and a 1 year high of $22.44.

First Horizon (NYSE:FHN) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.05. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same quarter in the previous year, the company earned $0.32 earnings per share. On average, equities analysts anticipate that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Friday, March 14th. First Horizon’s dividend payout ratio is currently 44.12%.

Insider Buying and Selling

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $21.13, for a total value of $2,323,877.40. Following the completion of the sale, the chief executive officer now directly owns 1,861,381 shares in the company, valued at $39,330,980.53. This represents a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.87% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on FHN shares. JPMorgan Chase & Co. increased their target price on First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a report on Friday, January 17th. Stephens reiterated an “overweight” rating and set a $24.00 target price on shares of First Horizon in a research report on Friday, January 17th. Bank of America increased their price target on shares of First Horizon from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Citigroup boosted their price objective on shares of First Horizon from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, Keefe, Bruyette & Woods increased their price objective on First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, First Horizon has a consensus rating of “Moderate Buy” and a consensus target price of $22.23.

First Horizon Profile

First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. The company operates through Regional Banking and Specialty Banking segments. It offers general banking services for consumers, businesses, financial institutions, and governments.